Melco Resorts & Entertainment Unit Unveils Proposed Offering

May 15, 2017John Elman

Melco Resorts & Entertainment said Monday that its wholly-owned subsidiary, Melco Resorts Finance Limited, is proposing to conduct an international offering of senior notes due 2025, the net proceeds from which will be used to fund the redemption of all of its outstanding 5.00% senior notes due 2021.

The new notes are proposed to be senior obligations of Melco Resorts Finance, ranking equally with all of Melco Resorts Finance’s existing and future senior indebtedness. Melco will not be a guarantor of the new notes.

Melco Resorts Finance also said that it has initiated a conditional redemption of all of the existing notes. The redemption is subject to the receipt by Melco Resorts Finance on or prior to the redemption date of funds in an aggregate amount sufficient to redeem the existing notes from the proposed offering of the new notes.